(NoteWorthy Newsletter Interview)
New Guerrilla Marketing
Interview with Hugh Williams by Jon Richards of NoteWorthy
New note marketing ideas are rare. When someone comes up with an inexpensive and innovative approach to finding notes we should all pay attention. Hugh Williams is the newest innovator.
There is a new and exciting product on note marketing. It was created by Hugh Williams and is called the "Mortgage Hunterís Guerrilla Marketing Tools & Tactics."
Here is an overview of the program, beginning with the buzzword: "lead generation". If you can generate phone calls to your office from referral sources or potential note sellers, you have generated "leads." In the note business, one hundred phone calls might create one note purchase, and a $1,500 commission. So the secret is getting your phone to ring. Mr. Williams meets this challenge head on.
He begins with a description of basic marketing principles and concepts, many of which will be new to note brokers. Hereís a great example, he explains that the big motivators in advertising are Love, Pride, Guilt, Fear, and Greed. Fear and Greed are the two factors most often causing people to sell their notes, and he uses these shamelessly in this program. However, you can also use Love: "Sell your noteóbuy your wife a diamond!" Guilt: "Cash for your note to prepay your childís education!" or Pride: "Ride in Style: Trade Me Your Note for My Mercedes!" These ideas and other will help you outsmart your competition, and develop the most innovative marketing campaign in your area.
Step one in the Guerrilla Marketing Tools & Tactics program shows you how to generate leads using both classified ads and inexpensive direct mail. The program also discusses how to track and test your advertising.
Step two involves using the latest telephone technology to capture the phone numbers of prospective note sellers. Mr. Williams shows you how this works, which companies offer the service, and how to use the information. For more information and an example visit www.automatedmarketingsolutions.com.
Step three teaches you how to use the leads you generate. You send special reports, very powerful direct mail letters, or, if you have the inclination, you can "warm call" the leads. Scripts in the program show you what to say. All of the reports and direct mail letters are included in the Guerrilla Marketing Tools & Tactics program.
Step four involves responding to and following up on the leads you generate. Mr. Williams is relentless, but professional, in pursuing his leads and turning them into note sellers.
When you start to understand the power of lead generation advertising, the laws of reciprocity, and the other aspects of advertising and persuasion, you will outdistance your competition by huge leaps. The more you know, the more you will earn. A good supplement to Mr. Williams program is to read Influence, the Psychology of Persuasion by Robert Cialdini reviewed in NoteWorthy, August, 2000. I recommend this program highly, especially if you want to be a creative and successful motivator of the note sellers of the world.
Among the things you will learn is that short, direct mail letters are not your goal. In fact, Mr. Williams gives you an 8-page direct mail letter that will almost certainly be read from beginning to end by the motivated note holder. And that is who you are marketing too: the motivated seller. None of us are good enough negotiators to buy a note from someone who does not need to sell it.
The power of being able to download all this material to your computer is that you can print out the instructional materials or review them on your computer screen. All the note seller letters, advertising, special reports, and scripts are ready to be printed and modified on your favorite word processor. This allows you to customize each item to fit your business.
In short, you get a ton of marketing ideas, a fully developed marketing program, and the scripts and letters to put it into practice. Dollar for dollar this is the best money you can spend to develop your note business. JR
For more information, visit www.MortgageHunters.com.